Being a member of the business community, one cannot help getting irked at the recent controversial measures being taken by the Federal Board of Revenue. FBR's announcements regarding the implementation of the VAT to the total exclusion of the business community have raised many eyebrows as to what the revenue organisation is actually trying to achieve?
It is ironic to mention that in the VAT conference organised on September 3rd and 4th by the FBR, experts from all over the world were present but there was negligible presence of the business community and the trade bodies.
It is astonishing that the business community, which is the major stakeholder as far as the implementation of VAT is concerned is not being taken on board and arbitrary decisions are being taken by the chairman Federal Board of Revenue just to appease the IMF and the World Bank.
Can the FBR chairman ever imagine moving ahead with the plan of implementation of VAT without taking the business community and the trade bodies on board? Are we so indebted to the International Financial Institutions (IFIs) that we would forget about the actual stake holders and keep appeasing the 'foreign financial lords' just for the sake of getting loans? For how long can this make-shift arrangement last?
Similarly, the announcements by the FBR chairman to create IRS where income tax, sales tax and federal excise would be dealt with by a single officer have also raised many question marks. Can the FBR chairman assure the business community that this would not result in the concentration of powers in the hands of one person and further harassment of the taxpayers? Who are the taxpayers supposed to look forward to for the redressal of their grievances in such a grave scenario?
Let us be in no illusion that any step taken to 'reform' the taxation system to the complete exclusion of the trade bodies and the business community is sure to end up in failure, ultimately bringing about financial chaos.
I appeal to the authorities concerned to look into these genuine issues being highlighted by the business community, but being brushed aside by those at the helm of affairs at the FBR.